SECP vide S.R.O # 1566(I)/2019 dated December 18th 2019 has specified that Rs.500 million (five hundred million rupees) shall be the Minimum Amount of Paid-up Capital for Incorporation of a Corporate Restructuring Company. LINK OF DOCUMENT Notification under Section 17 of CRC Act - Minimum Amount of Paid up Cap.. For any further details please [...]
SECP Vide S.R.O. No. 1619 (I)/2019 dated December 26th, 2019 made amendments in the Public Offering Regulations, 2017, (afterwards referred as the “Regulations”). Amendments mainly relate to the followings: - Amendments in General Conditions for Public Offer of Securities Amendments in Conditions for Public Offer of Shares Amendments in Conditions for Offer of Shares through [...]
SECP REGULATORY SANDBOX GUIDELINES, 2019 SECP issued Regulatory Sandbox Guidelines 2019, afterwards referred as “Guidelines”, is a tailored regulatory environment for promoting innovation and are applicable to new products, services or business models which have not been addressed under existing laws and regulations or existing regulations do not fully address the solutions. Therefore, in order [...]
Circular No. 16 of 2019 dated December 05, 2019 is issued by Company Law Division, Corporatization & Compliance Department of Securities and Exchange Commission of Pakistan (SECP) seeking attention of the organizations licensed under Section 42 of the Companies, Act 2017. i.e. PRIOR PERMISSION TO RECEIVE FOREIGN FUNDING/DONATIONS SECP emphasized by notifying that certain companies [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of NOVEMBER 2019. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (NOVEMBER 2019) KCO November 2019 Newsletter This Newsletter envisages following aspects: • COMMENTARIES OF SELECTED CASE LAWS [...]
Original-Gazette-Notification
2019124171235158372019-12-04(Realtimeintegration)
S.R.O. 1480 (I)/2019 DATED 27TH NOVEMBER, 2019, APPLICATION OF IFRS – 14 SECP vide S.R.O. 1480 (I)/2019 dated 27th November, 2019 notified the date of application of IFRS-14. International Financial Reporting Standard (IFRS) 14 – “Regulatory Deferral Accounts” and any further revisions issued by the International Accounting Standards Board shall be followed for the preparation [...]
Federal Board of Revenue has issued Circular No 16 of 2019 (ref: C.No.2(1)Contd/I.Tax/2018 on October 31, 2019. This Circular states that 1. FOR INDIVIDUALS and AOPs Date of Filing of Total Income / Statements for Final Taxation for Tax Year 2019 has been extended upto December 16, 2019. 2. FOR COMPANIES Date of Filing of [...]
INTRODUCTION The Federal Revenue Board (FRB) issued Sales Tax General Order 107 of 2019 dated November 21, 2019. COMMENTARY Through aforementioned Sales Tax General Order, FBR has issued clarification regarding chargeability of sales tax in Pakistan on the goods originating from Azad Jammu & Kashmir (AJ&K), which have been exempted from payment [...]
